Bulgaria Autos Report Q2 2014

Business Monitor International
March 5, 2014
56 Pages - SKU: BMI5213857
Countries covered: Bulgaria

Bulgaria Autos Report Q2 2014

Passenger car sales in Bulgaria declined 1.0% y-o-y in the first 11 months of 2013, to 27,256 units. In 2013,we expected private consumption to remain weak on the back of prolonged political uncertaintyexacerbating existing dynamics in the labour market. Our bearish outlook for consumer sentiment hasinformed our forecast for a 2% drop over the year. In 2014, we forecast a decline in sales of 1.8% asconsumer weakness continues to weigh on the passenger car segment.

Passenger car sales in Bulgaria have declined considerably from their 2008 levels, when sales hit some43,000 units. Sales in this segment have remained relatively weak since then, and we do not see the marketreaching these levels again over our forecast period to 2017.

On the plus side, Bulgaria has emerged as one of the preferred destinations for parts suppliers looking toincrease their presence in the region, although the economic crisis has hit profits and prompted suppliers toreduce their operational capacities. Declining vehicle output in the key markets of Germany and Italy hasput a crimp on demand for Bulgarian parts, but BMI believes that the long-term prospects are good,supported by the country's competitive advantages in cost, taxation and location.



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